In recent years, it has been more typical that Congress did not pass any legislation dictating a pay raise. The pay raise is not determined with an automatic calculation.Īs a result, Congress could pass legislation raising the pay raise to more than 5.2% or it could eliminate any pay raise. if set to a percent string, // group cells that fit in the percent of // the width of the carousel viewport. The COLA percentage for the next year is an automatic calculation as explained above. However, letus say that we want to use it to measure outcome after coronary. The annual pay raise is a figure determined through the political process. Responsiveness A responsive scale shows change when the patient changes. The impact of the inflation rate will only be indirect. That may change depending on what happens in Congress between now and the end of the year. Right now, the best guess for the 2024 pay raise is 5.2%. Some readers have asked if the federal employee raise will be impacted by the inflation rate that is lower than last year. Comparing Annual Federal Employee Raise to COLA The concept of the CPI has moved away from measuring the cost of living needed to maintain a constant standard of living. The newer method of calculation measures the cost-of-living expenses rather than the rise in prices. Last month, the Senior Citizens League predicted an annual COLA increase of about 3% for 2024.Īs noted in a previous FedSmith article, how inflation is calculated has changed over time. The closer we get to the third quarter, the more accurate the COLA 2024 predictions will become.
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